1. Field
The present disclosure generally relates to transaction processing. More particularly, the present disclosure relates to systems and methods for processing split transactions.
2. Related Art
Transaction account issuers have for many years awarded loyalty points and/or other reward currencies to customers as an incentive to use and/or apply for a particular transaction account. Although these currencies have been redeemable for a variety of rewards (e.g., discounts, airfare, products, etc.), rewards based transactions have been traditionally processed separately from other credit or dollar based transactions. This has been the case even where customers have initiated transactions based both upon rewards as well as credit (i.e., “split transactions”). As a result of this split between the processing of credit and rewards, customers have typically been debited the full amount of a transaction and only later credited, for example, the value of a selected number of rewards points. Thus, existing systems often generate confusing, if not upsetting, monthly statements (e.g., because a customer may receive a statement that shows that the customer was debited the full value of a transaction, despite the customer's knowledge that points were applied to the transaction). A system that applies a customer's rewards currency to the customer's transactions such that the customer is not debited for the full value of a split transaction is therefore desirable. A system that is capable of resolving disputes arising from split transactions is also desirable.